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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2544
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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Home Mortgage Products Best for me

Customer Question

What is the most financially advantageous type of mortgage product for this circumstance:
Family buying home for collegiate son, who will rent to roomies to subsidize.
Son is unemployed student; Family is two-income, with about 3 yrs left on primary residential mortgage.
Can put 20% down on our target $150K home, and want a 15 yr note.
What's the best product? Will it have to be classified as investment property? Can my son still qualify for homestead exemption even I'm the primary responsible party on the note?
No vets.
Submitted: 11 years ago.
Category: Finance
Expert:  David replied 11 years ago.
How long will you be keeping the property, and where is the downpayment comming from? What is your goal ...low payment or equity build up? When do you plan to retire?.
Customer: replied 11 years ago.
Reply to David's Post: Not the answer I was looking for
Expert:  Steve -- a.k.a. Oreport replied 11 years ago.

With respect, David's reply to your question was not an answer -- nor, was it so intended.

David was asking for additional information
regarding your specific situation. This information will enable
him to give you a more precise, correct and complete answer to your

Please note that such 'Info Requests' are not answers and thus, do not require acceptance (payment).

Thanks in advance.


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